NongHyup Bank Introduces Industry-First Non-Performing Loan Sale Process Using Virtual Data Room

[Asia Economy Reporter Kiho Sung] NH Nonghyup Bank announced on the 20th that it has applied a virtual data room (VDR) solution to the non-performing loan (NPL) asset due diligence business for the first time in the industry.

A virtual data room is a security solution specialized in collaboration and information sharing and management between financial and investment companies, based on a security cloud differentiated from general cloud services. By providing digitized asset due diligence materials, it enhanced data encryption and access control levels to strengthen customer personal information protection.

The NPL sales process using the virtual data room, introduced on the 15th, is part of Nonghyup Financial Group’s ‘ESG (Environmental, Social, Governance) Transformation 2025’ vision for eco-friendly activities. It aims to create a paperless work environment, and through continuous improvement of eco-friendly work processes, it has enhanced ESG execution capabilities.

President Junhak Kwon stated, “Through continuous digital financial innovation, we will strengthen customer personal information protection and fulfill our responsibilities and roles as a leading digital finance bank by accelerating digital transformation (DT) through ESG management.”

This content was produced with the assistance of AI translation services.